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Basic info
Types of Taxes
Miscellaneous
100
A financial charge imposed by a state to fund various public expenditures.
What is a tax?
100
A tax collected from one's income
What is income tax?
100
A government agency that collects taxes and is a bureau of the Department of the Treasury
What is the Internal Revenue service?
200
A tax imposed on a person or property
What is a direct tax?
200
A tax on the value of one's property
What is property tax?
200
A charge for the movement of goods through a political border
What is a tariff?
300
A tax imposed on a transaction, collected by an intermediary (such as a retail store)
What is an indirect tax?
300
A tax on commodities (non-necessities) when they are sold to their final consumer
What is a sales tax?
300
Someone who helps people pay their taxes
What is an accountant?
400
To raise revenue for government spending
What is the purpose of taxes?
400
A tax imposed on employers based on total payroll
What is a payroll tax?
400
The divisions at which tax rates change.
What are tax brackets?
500
The government's ability to raise taxes
What is fiscal capacity?
500
A tax both on corporate income and dividends
What is double taxation?
500
a tax in which the tax rate increases as the taxable amount increases
What is a progressive tax?